EURCHF is currently stuck in a consolidation phase on the daily chart. Following a sharp market displacement that created a significant low at 0.92110, the pair has moved erratically within a confined range. The recent price action shows EURCHF slipping again toward the lower boundary of this range.
Between August of last year and March, the EURCHF market exhibited a disjointed and rough structure. On the daily chart, heavy candlestick clustering is evident. Despite a series of lower highs and lower lows during Q4, the price behaviour lacked decisive movement, appearing more sideways due to the prolonged and congested candle formations.
A similar condition played out between December and February, with the market printing higher highs in a tight and choppy structure. The highs were so closely spaced and formed with dense candles that they failed to reflect any real breakout momentum, reinforcing the idea of long-term consolidation.
A sudden aggressive move followed, sweeping out both highs and lows—a classic liquidity grab that cleared orders from both ends of the range.
Since then, the price has hovered between 0.94220 and 0.92940. The ADX on this higher timeframe remains below 20, confirming a lack of directional strength. Bollinger Bands have been tested repeatedly, with price bouncing between the upper and lower bands, affirming the consolidative structure.
EURCHF Short-term Trend: Bearish
Currently, price has reached the demand zone at 0.92940—right at the lower Bollinger Band. This confluence sets up a potential reversal opportunity. A bullish bounce could see the pair rally back toward 0.94220.
The Bollinger Bands have been particularly reliable in this range, consistently offering entries at extremes. Combined with a strong ADX reading, traders can look for short-term momentum setups. This presents a prime environment for scalping strategies, with clear invalidation levels and defined targets for the best forex signals.
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EURCHF Short-term Trend: Bearish
EURCHF Short-term Trend: Bearish
